The Funded
Trader (TFT) prop firm has prepared a “gift” for its clients on Saint
Nicholas Day (6 December). Well, sort of. Traders who have been waiting over eight months
for their frozen funds received yet another apology, along with a resolution
plan and a promise of final decisions by January 2025.
Prop Firm The Funded
Trader Outlines Five-Point Recovery Plan
The Funded
Trader announced a new action plan (again) addressing multiple operational
issues, including delayed payouts and account suspensions, as part of its
efforts to restore community trust following recent platform disruptions.
The company
will tackle a backlog of approximately 7,000 pending account resumptions
through weekly distributions of 1,500 coupons until completion. Traders
affected by the operational pause will receive updates about their account
status by January 2025.
“Some
traders who were owed acxcounts or pyaouts during our pase in operations have
been informed by support that they are banned from the platform,” TFT commented
in an official announcement this week. “By January 2025, all eligible traders
wil receive a definite update on whether whey will receive gteir account, payout,
or a refund for the original purchase.”
Community Update: Resolution Plans
— The Funded Trader (@thefundedtrader)
We know these unresolved issues have been weighing on our community, and the time has come to take action. Owed accounts, payouts, DXtrade breaches, affiliate commissions, and outstanding coupons — we are addressing them all.
This is our… pic.twitter.com/Ep08UMsJis
Nearly
three months have passed since
the last promise from the prop firm regarding funds that have been locked since
March 28. At that time, the company indicated that its priority was to unlock
the largest accounts
with balances exceeding $100,000. That document also suggested that
suspended trader payouts were unlikely to be processed before 2025.
The latest
update clearly reaffirms this, indicating that most traders still won’t see
their money. Instead, they will receive information on how the prop firm plans
to settle with them. So far, according to data from August, the
firm has managed to repay 30% of the outstanding balance to retail traders
and 55% to its affiliates .
Key Recovery Initiatives
Proposed by TFT
The
platform is implementing a systematic approach to resolve accounts impacted by
DXtrade server issues, with a submission form expected later this month for
affected traders to file claims. A community voting system will be established
to ensure transparency in compensation decisions.
Outstanding
affiliate commissions and trader payouts predating April 2024 will be processed
through a new structured payment system. The company plans to credit accounts
with equivalent amounts owed, allowing withdrawals through Rise Works or
cryptocurrency options after completing updated KYC requirements.
“Payouys
will be processed in monthly batched, and affected afifiliates will be notified
via email about their expected payout timelines.”
What about
individuals waiting for payouts since before April 2024? In their case, each
person will receive a “rejection message” for the original payout
request. A new account will then be created with a balance equivalent to the
owed payout.
Drop a comment if you’re owed a payout from before March 2024.
— The Funded Trader (@thefundedtrader)
It’s time to start taking steps forward.
Users will need to complete the KYC procedure again and
subsequently reapply for withdrawal of their funds.
The Funded
Trader (TFT) prop firm has prepared a “gift” for its clients on Saint
Nicholas Day (6 December). Well, sort of. Traders who have been waiting over eight months
for their frozen funds received yet another apology, along with a resolution
plan and a promise of final decisions by January 2025.
Prop Firm The Funded
Trader Outlines Five-Point Recovery Plan
The Funded
Trader announced a new action plan (again) addressing multiple operational
issues, including delayed payouts and account suspensions, as part of its
efforts to restore community trust following recent platform disruptions.
The company
will tackle a backlog of approximately 7,000 pending account resumptions
through weekly distributions of 1,500 coupons until completion. Traders
affected by the operational pause will receive updates about their account
status by January 2025.
“Some
traders who were owed acxcounts or pyaouts during our pase in operations have
been informed by support that they are banned from the platform,” TFT commented
in an official announcement this week. “By January 2025, all eligible traders
wil receive a definite update on whether whey will receive gteir account, payout,
or a refund for the original purchase.”
— The Funded Trader (@thefundedtrader)
We know these unresolved issues have been weighing on our community, and the time has come to take action. Owed accounts, payouts, DXtrade breaches, affiliate commissions, and outstanding coupons — we are addressing them all.
This is our… pic.twitter.com/Ep08UMsJis
Nearly
three months have passed since
the last promise from the prop firm regarding funds that have been locked since
March 28. At that time, the company indicated that its priority was to unlock
the largest accounts
with balances exceeding $100,000. That document also suggested that
suspended trader payouts were unlikely to be processed before 2025.
The latest
update clearly reaffirms this, indicating that most traders still won’t see
their money. Instead, they will receive information on how the prop firm plans
to settle with them. So far, according to data from August, the
firm has managed to repay 30% of the outstanding balance to retail traders
and 55% to its affiliates .
Key Recovery Initiatives
Proposed by TFT
The
platform is implementing a systematic approach to resolve accounts impacted by
DXtrade server issues, with a submission form expected later this month for
affected traders to file claims. A community voting system will be established
to ensure transparency in compensation decisions.
Outstanding
affiliate commissions and trader payouts predating April 2024 will be processed
through a new structured payment system. The company plans to credit accounts
with equivalent amounts owed, allowing withdrawals through Rise Works or
cryptocurrency options after completing updated KYC requirements.
“Payouys
will be processed in monthly batched, and affected afifiliates will be notified
via email about their expected payout timelines.”
What about
individuals waiting for payouts since before April 2024? In their case, each
person will receive a “rejection message” for the original payout
request. A new account will then be created with a balance equivalent to the
owed payout.
Drop a comment if you’re owed a payout from before March 2024.
— The Funded Trader (@thefundedtrader)
It’s time to start taking steps forward.
Users will need to complete the KYC procedure again and
subsequently reapply for withdrawal of their funds.
This post is originally published on FINANCEMAGNATES.
